Global Tire Material Market Projected to Reach $85.26 Billion in 2023, Driven by Rising Vehicle Production

DUBLIN, Aug. 23, 2023 /PRNewswire/ -- The "Tire Material Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global tire material market, valued at $80.67 billion in 2022, is anticipated to burgeon to $85.26 billion in 2023, reflecting an impressive Compound Annual Growth Rate (CAGR) of 5.7%. The market is poised to reach $103.15 billion by 2027, driven by a CAGR of 4.9%.

Key Market Players in Focus

Key players in the tire material market include industry frontrunners:

• Orion Engineered Carbons
• SIBUR International GmbH
• SRF LIMITED
• Nynas AB
• Exxon Mobil Corporation
• PPG Industries, Inc.
• Koninklijke Philips N.V.
• Teijin Aramid B.V.
• Umicore
• Heuver.com
• ATG COGNIZANT
• Metro Tyre
• Federal Corp
• Carlisle Companies Inc.
• Nokian Tyres plc.

Reasons to Choose This Report

• Gain a truly global perspective with comprehensive coverage spanning 50+ geographies.
• Understand the COVID-19 impact and market response as the pandemic subsides.
• Assess the Russia-Ukraine conflict's impact on agriculture, energy, and mineral supply, and its market implications.
• Measure the influence of global inflation on market growth.
• Formulate strategies based on localized data and analysis.
• Identify investment-worthy growth segments.
• Outpace rivals using predictive data and market trends.
• Grasp customer dynamics via the latest market shares.
• Benchmark performance against key competitors.
• Strengthen presentations with reliable, high-quality data and analysis.

Understanding Tire Material

• Tires are crafted from synthetic rubber, natural rubber, cloth, steel cables, carbon black, and chemical compounds.
• Tire material categories encompass elastomers, reinforcing fillers, plasticizers, chemicals, metal reinforcements, textile reinforcements, and more.
• Tire variations include solid tires, pneumatic tires, and retreaded tires.
• Used in diverse vehicles such as two-wheelers, rickshaws, passenger cars, trucks, buses, and utility vehicles.

Emerging Trends: Eco-Friendly Tire Materials

• Eco-friendly tire materials gain traction, incorporating recycled materials for sustainability.
• Leading entities focus on eco-friendly tire development, bolstering market presence.

Regional Dynamics: Asia-Pacific Takes the Lead

• Asia-Pacific dominates the market and is poised for rapid growth.
• Regions covered: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Driving Force: Vehicle Production Increase

• Rising motor vehicle production propels tire material market growth.
• Tires provide traction, braking, and vibration damping for vehicles.

Market Segmentation and Player Landscape

Market Segmentation:

• Type:
• Wireless Door Phone
• Wired Door Phone

• End User:
• Residential
• Non-Residential

Market Players:

• Panasonic Corporation
• Honeywell International Inc.
• ABB Ltd.
• Aiphone
• VTech
• FERMAX Global
• Zmodo
• Legrand
• SkyBell Technologies, Inc.
• 1byone, Inc.

Conclusion: Insights That Drive Success

• Navigate the transformative journey of the tire material market.
• Witness growth from $80.67 billion in 2022 to $85.26 billion in 2023.
• Harness predictive insights, trends, and growth segments.
• Outshine competitors and fortify presentations with reliable data.

Key Topics Covered:

1. Executive Summary

2. Tire Material Market Characteristics

3. Tire Material Market Trends And Strategies

4. Tire Material Market - Macro Economic Scenario
4.1. COVID-19 Impact On Tire Material Market
4.2. Ukraine-Russia War Impact On Tire Material Market
4.3. Impact Of High Inflation On Tire Material Market

5. Tire Material Market Size And Growth
5.1. Global Tire Material Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Tire Material Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Tire Material Market Segmentation
6.1. Global Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Elastomers
• Reinforcing Fillers
• Plasticizers
• Chemicals
• Metal Reinforcements
• Textile Reinforcements
• Other Types

6.2. Global Tire Material Market, Segmentation By Tire Types, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Solid Tire
• Pneumatic Tire
• Retreated Tires

6.3. Global Tire Material Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Two Wheelers
• Rickshaws
• Passenger Cars
• Trucks
• Buses
• Utility Vehicles
• Other Vehicle Types

6.4. Global Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Passenger Cars
• Commercial Vehicles

7. Tire Material Market Regional And Country Analysis
7.1. Global Tire Material Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Tire Material Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/hvhy0c

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